Sun TV Network Ltd has informed BSE about the utilization of issue proceeds as under :

“Against the total projected utilization of Rs 572.0 crores (net of issue expenses) from the Initial Public Offering (’IPO’) funds, an amount of Rs 310.36 crores has been utilized towards capitalization of subsidiaries; Rs 49.68 crores towards launch of new channels and purchase of new equipment and up-gradation of existing equipment, and Rs 17.66 crores towards const of owned corporate office. The balance proceeds from the IPO after meeting IPO expenses, pending utilization have been invested in fixed deposits with banks.”